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Gum
Mar 9, 2008

oho, a rapist
time to try this puppy out
https://twitter.com/kadhimshubber/status/1046824937049219075

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gary oldmans diary
Sep 26, 2005
head of UK's treasury: "uh idunno. blockchain?"

EorayMel
May 30, 2015

WE GET IT. YOU LOVE GUN JESUS. Toujours des fusils Bullpup Français.
It should be rebranded to Brexitchain and the UK will immediately have any and all debts resolved in 24 hours.

ElGroucho
Nov 1, 2005

We already - What about sticking our middle fingers up... That was insane
Fun Shoe
Let's make flying cars, but they are powered by a blockchain, which is connected to my cam show anal vibrator

Just spitballin' here

Powershift
Nov 23, 2009


It's like rolling dice with buzzwords and combining them

We can save ourselves from

*rolls die*

the cloud, with

*rolls die*

asian fusion cuisine and

*rolls die*

quantam computing

resistentialism
Aug 13, 2007

https://twitter.com/BodegaBot

Warbadger
Jun 17, 2006

UK's economy must be looking pretty grim if they're throwing the B word around.

NtotheTC
Dec 31, 2007



https://twitter.com/BodegaBot/status/1046796870159339520

Two? :thinking:

ElGroucho
Nov 1, 2005

We already - What about sticking our middle fingers up... That was insane
Fun Shoe

Warbadger posted:

UK's economy must be looking pretty grim if they're throwing the B word around.

B-Bonaparte?

ilmucche
Mar 16, 2016

What did you say the strategy was?

ElGroucho posted:

B-Bonaparte?

Bollocks. As in "the economy is currently not the dog's bollocks, but is in fact bollocks.

Subjunctive
Sep 12, 2006

✨sparkle and shine✨


There was a third founder who left early, Ronald Wayne.

Warbadger
Jun 17, 2006

ilmucche posted:

Bollocks. As in "the economy is currently not the dog's bollocks, but is in fact bollocks.

Bitcoin, block chain, bullocks let's not be pedantic here - they're all the same thing.

Also: Cloning ol' Boney would have a much greater chance of helping the UK economy. Probably put a stop to Brexit at least!

ilmucche
Mar 16, 2016

What did you say the strategy was?
Bonaparts: you mine bonaparts and people can buy/trade them on the blockchain to fund napoleon's clone. When napoleon clonaparte takes over the world his fortunes are divided up amongst everyone who has a bonapart.

Toys For Ass Bum
Feb 1, 2015

https://cointelegraph.com/news/bloomberg-puerto-ricos-noble-bank-reportedly-loses-clients-tether-bitfinex-seeks-buyer

quote:

In possible competition with Tether, three new stablecoins backed with the U.S. dollar launched this September. In the beginning of the month, Paxos and Gemini separately announced two stablecoins called the “Gemini dollar (GUSD)” and the “Paxos Standard (PAX),” both backed 1:1 with crypto. Later, Circle Internet Financial launched its own USD-backed digital token named the “USD Coin.”

USD Coin :cripes:

Hillary 2024
Nov 13, 2016

by vyelkin
I'm going to Mars with the blockchain and MarsCoin.

I love technology.

kuddles
Jul 16, 2006

Like a fist wrapped in blood...
LOL. You would think when they are at the point of matching it to the existing fiat currency they were supposed to diverge from in order to maintain a sense of legitimacy, they would call it a day.

If only there was another way to electronically pay for things that matched up to the US dollar.

Risc1911
Mar 1, 2016

https://twitter.com/soleil_dusoir9/status/1047561774495621121
https://twitter.com/realpauleverton/status/1047610311224614912

Risc1911 fucked around with this message at 23:26 on Oct 3, 2018

Sentient Data
Aug 31, 2011

My molecule scrambler ray will disintegrate your armor with one blow!
Tether's a beautiful scam in its simplicity, but don't you need to worry about getting flat out murdered when it finally falls apart? That kind of volume can't be without consequence

jimmyjams
Jan 10, 2001


King Kong of Megadongs
Gobblin' them mega schlongs
Makin' sure they mega long
Stroke' 'em if they mega strong
just printed a huge shitcoin

Telarra
Oct 9, 2012

Wait, $TUSD and $USDT? There's another tether now?

Moridin920
Nov 15, 2007

by FactsAreUseless

Moddington posted:

Wait, $TUSD and $USDT? There's another tether now?

lol

Stink Billyums
Jul 7, 2006

MAGNUM

Moddington posted:

Wait, $TUSD and $USDT? There's another tether now?

It's tethers all the way down

SolTerrasa
Sep 2, 2011

Moddington posted:

Wait, $TUSD and $USDT? There's another tether now?

gently caress, I hate knowing that you can trade them for each other. This has to give the efficient markets people such a headache.

jimmyjams
Jan 10, 2001


King Kong of Megadongs
Gobblin' them mega schlongs
Makin' sure they mega long
Stroke' 'em if they mega strong
finally. a tether that's backed by tether

VitalSigns
Sep 3, 2011

Why would an exchange want to hold Tether and pretend they're the same as US Dollars when they obviously aren't.

That's what I don't get about this, the exchanges are giving away assets in return for nothing, why

Space Skeleton
Sep 28, 2004

VitalSigns posted:

Why would an exchange want to hold Tether and pretend they're the same as US Dollars when they obviously aren't.

That's what I don't get about this, the exchanges are giving away assets in return for nothing, why

They need liquidity in USD moving around the market to keep everything moving along and suckers coming in with deposits, so they use fake USD. That's really all there is to it.

Klyith
Aug 3, 2007

GBS Pledge Week

VitalSigns posted:

Why would an exchange want to hold Tether and pretend they're the same as US Dollars when they obviously aren't.

That's what I don't get about this, the exchanges are giving away assets in return for nothing, why

most of them don't. only a few exchanges allow tether to be sold for real money -- the majority just allow people to trade tether for other cryptocurrencies. that's a pretty blatant sign that they don't want anything to do with the consequences.


but as long as the exchange itself isn't the one making any claims about tether's stable backing, or holding any of it in their own accounts, what do they care? it's not the exchange that's giving away assets for tether, it's their customers. if tether poo poo the bed and goes to zero their customers are hosed, but in that respect it's no different to any other buttcoin.

Tsietisin
Jul 2, 2004

Time passes quickly on the weekend.

Moddington posted:

Wait, $TUSD and $USDT? There's another tether now?

Just wait and eventually it will all crumble into $DUST

MrUnderbridge
Jun 25, 2011

Tsietisin posted:

Just wait and eventually it will all crumble into $DUST

:golfclap:

Adar
Jul 27, 2001

Moddington posted:

Wait, $TUSD and $USDT? There's another tether now?

Don't forget USDC and whatever the Gemini dollar coin is!

(everyone who's hated Tether for years has come out with a stablecoin in the past few months and all of those stablecoins are getting the audits Tether says no firm is willing to do)

the two possibilities from here: Tether quietly fades away on exchanges over the next few months as everyone switches to more legitimate stablecoin trading pairs, or it blows up in the next couple of months and RIP

KinkyJohn
Sep 19, 2002

Adar posted:

or it blows up in the next couple of months and RIP

please I need to buy a new GPU soon

Lambert
Apr 15, 2018

by Fluffdaddy
Fallen Rib
Or everything continues as is because there's always the next sucker out there and Adar posts another coiner podcast with a guy claiming that "the world needs this technology".

KinkyJohn posted:

please I need to buy a new GPU soon

Let me tell you about this guy Trump and his tariffs.

Lambert fucked around with this message at 14:55 on Oct 4, 2018

Waltzing Along
Jun 14, 2008

There's only one
Human race
Many faces
Everybody belongs here
Murder isn't cool. But it's sure gonna be interesting when people start killing each other over tether.

100 HOGS AGREE
Oct 13, 2007
Grimey Drawer

Adar posted:

Don't forget USDC and whatever the Gemini dollar coin is!

(everyone who's hated Tether for years has come out with a stablecoin in the past few months and all of those stablecoins are getting the audits Tether says no firm is willing to do)

the two possibilities from here: Tether quietly fades away on exchanges over the next few months as everyone switches to more legitimate stablecoin trading pairs, or it blows up in the next couple of months and RIP

There's no situation in which it does not blow up because even if people change to more "legitimate" coins there will still be all the current tether floating around. Not like they're gonna buy back all the tether from all the traders with the money they totally have in the bank.

Business
Feb 6, 2007

I think you guys really underestimate how much vodoo wizardry and funny money things go into 'real' financial markets including commodities trading. People make financial products and people buy them forever and ever amen.

e: for the record I hope tether collapses because it will be funny

Business fucked around with this message at 17:58 on Oct 4, 2018

GABA ghoul
Oct 29, 2011

Trump pleads blockchain in Russian collusion trial

El_Elegante
Jul 3, 2004

by Jeffrey of YOSPOS
Biscuit Hider
Are stablecoins the new horse-backed currency I’ve been waiting for?

VitalSigns
Sep 3, 2011

Klyith posted:

most of them don't. only a few exchanges allow tether to be sold for real money -- the majority just allow people to trade tether for other cryptocurrencies. that's a pretty blatant sign that they don't want anything to do with the consequences.

But doesn't that mean the exchanges are giving away Bitcoin for Tether?

I mean yeah you can (accurately) joke that Bitcoin isn't a real asset, but people will give you real money for it, so you can buy Bitcoin from an exchange with Tether and either cash out or transfer your Bitcoin to another exchange that will let you cash out or withdraw your Bitcoin and sell it.

Right?

Or will exchanges not send Bitcoin to other exchange for you / let you withdraw Bitcoin into your own wallet.

klafbang
Nov 18, 2009
Clapping Larry
You do not buy butts from exchanges. You buy from other people bots on the same exchange.

Exchanges just get all the butts and tethers into one big wallet (under a very large birdbath) and move numbers around in an unsecured MySQL database to indicate who owns which butts or tethers.

To make as many people as possible transfer their butts and tethers into the exchange wallet under the birdbath, they let people cash out by moving some of the butts to other exchanges or to a smaller wallet under a smaller birdbath so more people will give them butts for their exit scam.

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jimmyjams
Jan 10, 2001


King Kong of Megadongs
Gobblin' them mega schlongs
Makin' sure they mega long
Stroke' 'em if they mega strong
lol so if you use an exchange your butts are literally in someone elses wallet

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